OGI Bio Secures £650k in Follow-Up Funding to Expand Market Presence

18/06/2024

OGI Bio, a leading Scottish biotechnology company, has secured follow-on funding of £650,000 in a deal led by TRICAPITAL Angels and supported by Scottish Enterprise, Merleview, Apollo, and Old College Capital to accelerate the company’s growth and expansion in the UK, EU, and US biotechnology sectors.

OGI Bio specialises in developing innovative solutions for microbial growth and analysis. The company focuses on creating advanced bioreactors and automated systems that enhance the efficiency and precision of microbial growth.

By integrating cutting-edge technology and automation, OGI Bio facilitates product development in fields such as health and beauty, food manufacturing, feedstock, and green alternatives to petrochemicals. The company’s solutions optimise microbial workflows, reduce labour costs, and increase reproducibility from the earliest stages of product development.

OGI Bio was founded to overcome the challenges of time-consuming manual microbial growth. Unable to afford expensive automation solutions, the founders created and built their own systems from scratch

“With this investment, we will be launching additional modules to complement our existing market offerings and an enhanced software package that provides our customers with greater flexibility in process control. This will allow them to view, measure, and control their culturing processes from anywhere in the world.” said Alex McVey, CEO of OGI Bio. 

“TRICAPITAL Angels has been a crucial partner for OGI Bio since March 2022, leading the company’s first pre-seed raise alongside partners, including long-term backers Apollo Informal Investments. Over the past two years, TRICAPITAL Angels has continued to provide unwavering support, participating in two further financing rounds.“ McVey added.

TRICAPITAL Angels CEO Moray Martin commented, “TRICAPITAL Angels is proud to continue our support for OGI Bio. Their innovative approach to microbial growth and analysis is transforming the biotechnology industry, and we believe they are well-positioned for significant growth.”

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